The working environment is changing drastically currently. Connected workplaces, conducive environment and shared facilities are some of the biggest buzzwords today. The concept of short term office is another buzzing idea. While this concept of hiring offices for a short period works brilliantly for entrepreneurs and startups, even for businesses with separable space, it means easy profit.
Even businesses where the main office is undergoing renovation and remodeling might be on the lookout for short term offices with comprehensive facilities. They don’t need long-term contracts and inevitably turn out to be a lot cheaper.
So if you have some separable office space, renting it out as a short term office makes business sense.
Good Use of Separable Space
This ensures that the vacant office space that you have does not lie around as a non-product real estate. Instead, it helps you create a source of steady revenue for a definitive period. This, therefore, helps you kindle an income source without any additional expense. It also helps increase your savings base.
Easy To Rent Out
Since the short term office space is taken on rent for a shorter period, it is much easier to rent it out. The formalities and the time period make it much easier to draw up contracts. Given the growing number of startups and entrepreneurs, it is also much easier to rent these out.
As a result, the related legal hassle is much lesser too. Given the budget and low rent deposit, it is much easier to work around the formalities in this type of small office rental agreement. The relative cost is much lesser and maintenance is taken care of.
Given the short term rent period, this kind of office also ensures that there is much lesser risk involved. Be it the tenant or the landlord, it is a win-win arrangement on both sides. The renting commitment is primarily based on the tenant’s need and there is no need for long-term commitments. As a result, the risk of default is also much lower in this case.
So needless to mention, this kind of short term office rent enables considerable flexibility. You can charge rent as per the use from half a day to one week, 15 days or on a daily basis. This way, neither the tenant nor the office space owner is at a loss. It makes the whole deal immensely flexible and makes it possible to have contracts tailor-made to suit requisitions.
As a result, drawing up these contract agreements is not expensive at all. Nor the processing fee is excessively expensive. It is, therefore, a win-all proposition for all involved.
As a result, you can easily turn a vacant office space into a source of steady revenue inflow. This arrangement of leasing out short term office space can be particularly lucrative if your business is cyclical nature. It will help you easily offset low revenue and create a steady channel of income for rainy days. This kind of set up is also gaining popularity, so finding potential tenants is easier too.